The new measures mean that Cyprus is the first eurozone nation to impose capital controls - the absence of which is a fundamental reason behind the monetary union of the 17 members of the euro bloc - since the debt crisis began.

BBC: Cyprus banks to reopen on Thursday after bailout closure

Monetary turmoil in Europe had brought the collapse of its gold bloc.

FORBES: Despair and Hope Beyond Chairman Bernanke's Monetary Cliff

The leaders also asked the International Monetary Fund to speed up changes in its governance to better represent the developing world as a voting bloc.

CNN: BRICS leaders edge closer to setting up development bank

In that larger bloc, the exact same dynamic of surplus and deficit nations is playing out within an inflexible monetary straightjacket.

FORBES: Germany And China Have The Gold And Will Make The Rules